New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1887-10-26
HOW TO Get RICH

Cen. Buffers Advice 10 Woulei-bes
Thrifty Young Men.
The Boston Herald prints the fol-
lowing letter from Gen. Benjamin f.
Butler:
BosTos, Mass, Aug. 90. 1887.
DEAR SIR: have received your
note asked me to write some practical
hints for young men on the acquire
ment OF wealth, which may be publish
| ed.
| A difficult task is set me, as the CIR
cumstance under which young men
commences life are so widely varied.
| But think that more young men fail
!; in the investment OF what they earn
! or receive that in any other way to
/ acquire property. The temptations
i to speculate are so great, and the de.
! sire to become suddenly rich so strong,
J that / believe eight out OF ten. if not
more, of young men are wrecked ut
the very beginning.
| II a young man is earning something
more than the expense OF his living
! and has no object in view, he is likely
either to increase those expenses care
! sessly or to loan his money to his
| friends, and in so doing in the major
ity OF cases he will lose. both friends.
and money, so that the best thing he
can do is to have an object, to gather
bis money. and have a call for it
which shall be a profitable one He
makes no investment because he says,
II have got 50 little money that it
| won't come to anything I will wait
until / get more;;" and in waiting, gem
orally, what he has goes.
When Il young man has a very little
money let him buy some property,
| preferably piece, however small, ac-
| cordiEg to his means, of improved
real estate that is paying rent. He
| had better buy it when sold at auction,
| under judicial sale, paying cash what
he can, giving his note for the balance
in small sums coming due at fre-
quently recurring intervals, Sc
cured by a mortgage on
the property, and then use ali his ex-
ira income in paying up those notes.
1t Is always safe to discount your
own note, and il the notes. come a lit
tie too fast as soon as he gets any
thing paid his friends viii aid him
when he is putting his money where it
cannot be lost, and where the proper
tv is taking care OF the interest, and
in a very short time he will find that
he has got a very considerable invest
| ment. He will become interested in
it., save his money to meet his notes,
! and he will directly come into q con-
siderable possession Of property and
hardly know how it came to him.
That is, he will have had motive for
saving. and will get the result of that
saving, and will not be tempted to en-
ter into speculations. Nothing is so
safe for an investment as improved
real estate. Nothing is likely to grow
in value faster. In the last SO years
80 per cent. of all the merchants and
traders in Boston have failed. In the
last fifty years 80 per cent,
of all the business corpora
/ tions have failed or gone out of bust
ness, so that their stock has been
wiped out. In the last fifty years all
the improved real estate on the aver
age has paid it's interest and taxes and
quadrupled in value. lfavoung mans
father can give him anything to start
! him in the world he had better invest
it in that way and let it accumulate
and earn his living, and hewill be rich
err than If he had gone into business.
Jay Gould is said to have started
from, q mouse trap seller to become a
millionaire. Assuming that to be true,
he is only one of $4,000, 1000 of people;
and if any young man thinks that he
is going to initiate Jay Gould, there
are 6O.OOO,OOO chances to one he
won't succeed.
The rule would lay down for a
young man is never do mean thing
for money. Be prudent and saving Of
your money. Be careful tohave no in.
terest account running against you
unless you have an equal or greater
! interest account running in your fa-
vor: Work; diligently and you
are sure of a competency
in your Old age, and as~early as pos
sible, if you can, find a saving, pru.
dent girl who has been brought up by
a mother who knows how to take
care Of house and make a wife of her,
she will aid and not hinder you.
Iciaim no originality in this advice
and will relate you an,incident in my
own experience to illustrate it, In my
earliest practice in my profession
was quite successful iniearning money,
and had a small balance in the Lo-
we'll bank, at the head OF which was
Mr.. James G. Carney. The bank was
directly across the hall from my Office.
I'stepped into the bank to deposit a
little money on one occasion, and
TO sGtN
you invest your money! Invest"
said I; az have nothing to invest"
.'Oh, yes he says, you have quite
a little sum of money, and see that
your young friends come with your
checks occasionally, evidently borrow
ing it. Now.you had better invest it,.
3 How can.I {. invest it?" .'lnvest it in
real estate 81 know nothing about
real estate" .Go,to the first auction
and buy the property. You cannot